And the beat goes on: New Law and Russell Jones & Walker granted ABS licence
The Solicitors Regulation Authority (SRA) has approved two further alternative business structures applications last week.
New Law, a personal injury firm based in Cardiff, and Russell Jones & Walker are the fourth and fifth ABS firms to be authorised by the SRA.
New Law, which has around 270 staff, is the first legal practice to become an alternative business structure in Wales.
The news of Russell Jones & Walker’s ABS bid comes as no real surprise after the firm was acquired by the Australian practice Slater & Gordon earlier this year with the takeover predicated on RJW succeeding in its ABS application. Andrew Grech, Managing Director of the Melbourne based firm, understands the potential opportunities alternative business structures will open up:
“This is the optimum time to enter the UK market because of the changes in ownership laws and impending changes to the personal injury sector.”¹
Chairman of the SRA, Charles Plant, last week confirmed 74 ABS applications were now at an advanced stage.
Content correct at time of publication